Author: dcadmin
Significant pension cuts loom for retirees
Since Whitley Wyatt retired in 2000 after 33 years as a trucker, he’s collected a pension of $3,300 a month. Now, the 71-year-old says as much as $2,000 of his monthly check is at risk because of legislation passed by Congress last year that is meant to help underfunded multiemployer pension plans bolster their finances […]
Retirement Income Gap Projected at $7.7T
The Pension Rights Center updated its aggregate U.S. retirement income deficit figure to $7.7 trillion—up from $6.6 trillion just five years earlier—in conjunction with today’s retirement preparedness hearing by the U.S. Senate Special Committee on Aging.
Nation’s Retirement Income Deficit Now $7.7 Trillion
Washington – Five years after it was first announced, the nation’s Retirement Income Deficit (RID) has risen from $6.6 trillion to $7.7 trillion. The updated figure was released by the Pension Rights Center today in conjunction with a hearing on “Bridging the Gap: How Prepared are Americans for Retirement?” held by the U.S. Senate Special […]
Obama puts weight behind push for fiduciary standard
With President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.
5 Things to Know About Pension Advances
If you need money in a pinch you may be tempted to take an advance on your pension. However, if you’re not careful, you could get lured into a scam and lose the money you’ve worked so hard for.
Which are the best countries in the world to grow old in?
Pensions and healthcare benefits vary widely across the globe as do people’s perception of their happiness
DOL Fiduciary Re-Proposal Fires Up Foes, Supporters, as They Brace for Battle
Opponents and supporters of the Department of Labor’s fiduciary rule began gearing up for battle as soon as President Barack Obama said that he was throwing his support behind it.
DC execs expecting big changes from Obama push on fiduciary standard
With President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.
Can They Grab Your Pension?
Clawbacks become more common as plans discover they overpaid recipients.
Got a pension? Act now to save it
If you were among the 15.7 million private-sector workers with a traditional defined benefit pension plan in the U.S. in 2012, now might be good time to stop counting your blessings.
President Obama calls for new consumer protections
At a briefing hosted by AARP yesterday, I had the privilege of watching President Obama announce his support for a proposed rule to put a brake on conflicts of interest in investment advice for retirement accounts. The event set the stage for the release of the Department of Labor’s (DOL) fiduciary rule to the Office […]
Groups Debate Effects of Plan Fee Litigation In Competing Supreme Court Amicus Briefs
The effect of plan fee litigation on workers’ retirement savings has sharply divided various industry groups, which filed competing amicus briefs with the U.S. Supreme Court in an upcoming case involving Section 401(k) plan fees (Tibble v. Edison Int’l, U.S., No. 13-550, arguments scheduled 2/24/15).
